Cassia Gum Market -
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Market Value and Forecast:
The global cassia gum market is anticipated to expand at a moderate CAGR during the forecast period. Till now cassia gum was preferred to be used as an alternative to gaur gum because of limited awareness and limited research and development activities. However with regulations approvals in various regions around the world and innovations in cassia gum formulations in dairy & confectionery products and pet food, cassia gum is expected to experience an upward trend during the forecast period.
The global cassia gum market is valued at US$ 10.1 Mn in 2015. Companies are increasingly introducing Cassia in their new products, particularly in baby food, dairy and confectionery products such as chocolates, jellies, biscuits. Effective guidelines & standards are crucial across the cassia gum supply chain both for suppliers as well as international buyers. In countries such as India and China; which are the major producer and supplier of cassia gum, there is a near total absence of cassia gum specific rules and standards addressing both production and processing phase. This often hampers quality of Cassia Gum being imported by customers. Some other market restraints for cassia gum market are overdependence of Cassia Gum farmers on monsoon and availability of Alternatives at lower price points.
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The global cassia gum market is segmented on the basis of applications and regions.
Segmentation by Application
On the basis of food & beverage industry, the cassia gum market has been segmented into animal food (dog food, cat food, and animal feed), dairy & confectionery products, meat products and instant mixes. In animal food segment, dog food sub- segment is anticipated to account for a major share in the cassia gum market by 2025, in terms of value. On the basis of manufacturing industry, the cassia gum market is segmented into cosmetics, pharmaceuticals, paper, textile, chemical processing and others (Mining, Oil & Gas). Demand for cassia gum in cosmetics sub-segment is expected to increase rapidly in the near future with over 48% share, in terms of value by 2025. Increase in demand of natural hair care formulations offering improved hair conditioning is also driving the usage of cassia gum in cosmetics sub-segment.
The global cassia gum market has been segment into seven major regions including North America, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, Eastern Europe, Latin America and the Middle East & Africa. Of all the regions, North America is expected to dominate the market with 29.1% share by the end of 2015. APEJ and Western Europe markets are collectively estimated to account for 34.8% of the total cassia gum market value.
Key players in the global cassia gum market include Agro Gums, Amba Gums & Feed Products, Avlast Hydrocolloids, Altrafine Gums, Premchem Gums Pvt. Ltd., Dwarkesh Industries, H.B. Gum Industries Private Limited, Fooding Group Limited, J D Gums and Chemicals.
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